News

Kenny to quit Power post

STEWART KENNY is planning to step down as chairman of Paddy Power, the publicly quoted firm of bookmakers that he helped found. An announcement could be made ahead of the company’s annual general meeting, which will be held in Dublin on June 3.

Fintan Drury, a non-executive director at Ireland’s largest bookmaker, is believed to be the favoured candidate to replace Kenny given his role as a sports marketing consultant and the company’s desire to gain maximum impact from its PR efforts.

Paddy Power declined to make any comment, saying it never responds to media speculation.

Kenny, who was a co-founder of Paddy Power in 1988, is not cutting his ties with the €252m business and will remain on the board as a non- executive director. Having had a hands-on role for so long, Kenny has taken a back seat since becoming chairman last year. Drury, the founder and chairman